$DEED token on Robinhood chain rugpulled with $700K extracted by coordinated 110-wallet group controlling 86% supply.
Ecosystem ·
The $DEED token on the Robinhood chain has been identified as a rugpull, with approximately $700,000 extracted by a coordinated group of 110 connected wallets that controlled roughly 86 percent of the token supply at its peak. The creator wallet, identified as 0x0052BB21E9CccfcB790913fe3D9bc52cC45d9dD9, was initially funded from KuCoin and claimed 68.5 ETH—equivalent to approximately $188,880—in creator fees during the exploit.
The token's market capitalization collapsed dramatically from a peak of $4.23 million to roughly $55,000, representing a decline of 98.7 percent. The heavily bundled launch structure, with a small number of wallets holding the vast majority of supply, created conditions that enabled rapid capital extraction and subsequent token devaluation.
It remains unclear what safeguards or warning signals, if any, were visible to traders before the collapse, or whether platform-level restrictions on the Robinhood chain might have mitigated the initial distribution imbalance.